A lot has been written about the “lock-in” effect of pandemic-era mortgages.
But it’s the finances of borrowers “locked out” of homeownership that have Wall Street investors sitting up straight — and paying attention.
“The housing market has been performing extraordinarily well. It has been very resilient,” said Daniel Liesener, a senior analyst in fixed income at Columbia Threadneedle Investments.
Renters, however, have been falling behind on consumer debt this year at about 1.5 times the rate of homeowners, when looking at borrowers with a credit score of 660 or higher.